Job growth, consumer spending and an influx of educated workers all helped Arizona in the report. phoenix azinno
Businesses in Arizona have a better outlook for startup success than those in most other states, according to a new report that measures which places around the nation are most amenable for entrepreneurs amid the economic challenges of 2022.
Arizona’s showing was highest in the workforce and consumer habits category, where it ranked No. 11, benefitting from a 3.7% rate of job growth and a net migration of educated workers just topping 47,000. Consumer spending in the state is up 13.1%. That state business self-assessment score was higher than the national score of 56.4%, and Arizona’s business growth rate bucked the national decline of -0.09%, but Arizona’s startup survival rate was slightly lower than the U.S. average of 50.3%.
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